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PGIM Real Assets Fund
mutual fund
PUDCX
Payout Change
Pending
Price as of:
$9.85
+0.02
+0.2%
primary theme
U.S. Balanced Allocation
share class
PUDCX (Mutual Fund)
PGIM Real Assets Fund
Payout Change
Pending
Price as of:
$9.85
+0.02
+0.2%
primary theme
U.S. Balanced Allocation
share class
PUDCX (Mutual Fund)
PGIM Real Assets Fund
Payout Change
Pending
Price as of:
$9.85
+0.02
+0.2%
primary theme
U.S. Balanced Allocation
share class
Name
As of 11/29/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
12.1%
1 yr return
13.7%
3 Yr Avg Return
4.5%
5 Yr Avg Return
6.5%
Net Assets
$82.8 M
Holdings in Top 10
100.9%
52 WEEK LOW AND HIGH
$9.8
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 3.16%
SALES FEES
Front Load N/A
Deferred Load 1.00%
TRADING FEES
Turnover 30.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$1,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/29/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
PUDCX - Profile
Distributions
- YTD Total Return 12.1%
- 3 Yr Annualized Total Return 4.5%
- 5 Yr Annualized Total Return 6.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.11%
- Dividend Yield 1.0%
- Dividend Distribution Frequency None
Fund Details
-
Legal NamePGIM Real Assets Fund
-
Fund Family NamePrudential
-
Inception DateDec 30, 2010
-
Shares OutstandingN/A
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerEdward Campbell
Fund Description
The Fund seeks to achieve its investment objective by investing primarily in real assets that may perform well in periods of high inflation. Real return is the rate of return after adjusting for inflation. Under normal circumstances, the Fund invests at least 80% of its investable assets in investments offering exposure to real assets.Real assets include interests in: commodities,real estate, utilities and infrastructurestocks, natural resource stocks, fixed income instruments (including Treasury Inflation-Protected Securities (“TIPS”); master limited partnerships (“MLPs”); gold-related securities and other defensive assets; derivatives on each of these interests; and other assets that have intrinsic value due to their physical properties. The Fund may focus its investments in particular types of real assets and is not required to diversify among different categories of real assets. The term “investable assets” refers to the Fund's net assets plus any borrowings for investment purposes. The Fund's investable assets will be less than its total assets to the extent that it has borrowed money for non-investment purposes, such as to meet anticipated redemptions.The Fund gains exposure to the real asset classes by investing in varying combinations of other PGIM mutual funds (the “Underlying Funds”); the Cayman Subsidiary; and direct investments in securities (such as equity and equity-related securities, including common stock, convertible securities, nonconvertible preferred stock, American Depositary Receipts, warrants and other rights that can be exercised to obtain stock, preferred stocks, affiliated and unaffiliated exchange-traded funds (“ETFs”), notes and bonds and certain financial and derivative instruments, including futures).The Fund’s asset allocation strategy is determined by the Fund’s subadviser. The subadviser utilizes a dynamic asset allocation strategy among the real asset classes to seek to provide attractive risk adjusted real return. The subadviser utilizes a dynamic asset allocation process that makes tactical allocation decisions based on portfolio management judgment which incorporates factors such as current market and economic conditions, risk, and valuation. This analyzes the momentum of asset class prices, their volatility and their correlations to each other and adapts the asset class allocations to reflect the current market environment. Finally, the subadviser’s portfolio managers overlay their judgment over the analysis to incorporate data and information that they believe may also impact future asset class returns.The subadviser may tactically adjust the asset allocation ranges among the real asset classes within the following approximate ranges: commodities (0% to 50%), real estate (0% to 50%), utilities/infrastructure (0% to 40%), natural resources (0% to 40%), fixed income (0% to 60%), MLPs (0% to 20%), and gold/defensive (0% to 40%). Additionally, the Fund’s investments in the Underlying Funds may range from 0% to 100% of the Fund’s assets. As of October 31, 2023, the Fund’s assets were allocated approximately to each asset class as follows: commodities (19.45%), real estate (21.67%), utilities/infrastructure (9.24%), natural resources (7.84%), fixed income (25.67%), MLPs (13.27%), gold/defensive (1.64%) and cash (1.21%).Real Estate, Utilities/Infrastructure, Natural Resources, MLPs, Commodities and Fixed Income Asset Classes. The Fund invests in the shares of the Underlying Funds named in the section entitled “More About the Fund's Principal and Non-Principal Investment Strategies, Investments and Risks” to obtain exposure to real estate, utilities/infrastructure, natural resources, MLPs, commodities and fixed income. Each Underlying Fund invests primarily in securities or other instruments suggested by such Underlying Fund's name. Each of the Underlying Funds is managed by the Fund’s manager and subadvised by its affiliates.Gold/Defensive Asset Class. The Fund gains exposure to the gold/defensive asset class through investment of the Fund’s assets directly or in the Cayman Subsidiary. The subadviser manages the Fund’s assets that are allocated to the gold/defensive asset class. The objective of the gold/defensive asset class is to provide exposure to gold-related securities and other defensive assets. To obtain the desired gold exposure, the subadviser may invest the Fund’s assets that are allocated to this asset class in a portfolio of relatively large, liquid gold mining stocks, most of which are included in the NYSE Arca Gold Miners Index. To reduce the equity exposure associated with these stocks, the gold/defensive asset class may obtain exposure to the Chicago Board Options Exchange Volatility Index (“VIX”) and cash or cash equivalents. The VIX measures the implied volatility (i.e., estimated future volatility) of the S&P 500 Index options. The Fund may also invest in ETFs, swaps, futures contracts and other derivatives and/or exchange traded notes (“ETNs”). The subadviser also may invest through the Cayman Subsidiary in gold-related derivatives that would otherwise generate non-qualifying income for purposes of the Internal Revenue Code of 1986, as amended (the “Code”) (e.g., gold futures).
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PUDCX - Performance
Return Ranking - Trailing
| Period | PUDCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 12.1% | -1.9% | 93.7% | 79.18% |
| 1 Yr | 13.7% | -1.7% | 100.0% | 91.79% |
| 3 Yr | 4.5%* | -3.5% | 23.3% | 44.08% |
| 5 Yr | 6.5%* | -2.0% | 24.7% | 71.24% |
| 10 Yr | 3.1%* | 1.3% | 14.2% | 96.52% |
* Annualized
Return Ranking - Calendar
| Period | PUDCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -0.4% | -12.2% | 23.9% | 97.81% |
| 2022 | -11.0% | -34.7% | 2.8% | 7.43% |
| 2021 | 4.5% | -11.9% | 18.1% | 57.58% |
| 2020 | -0.3% | -20.9% | 39.7% | 92.79% |
| 2019 | 12.2% | 0.8% | 25.7% | 71.12% |
Total Return Ranking - Trailing
| Period | PUDCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 12.1% | -1.9% | 93.7% | 79.18% |
| 1 Yr | 13.7% | -1.7% | 100.0% | 91.79% |
| 3 Yr | 4.5%* | -3.5% | 23.3% | 44.08% |
| 5 Yr | 6.5%* | -2.0% | 24.7% | 71.24% |
| 10 Yr | 3.1%* | 1.3% | 14.2% | 96.52% |
* Annualized
Total Return Ranking - Calendar
| Period | PUDCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.2% | -12.2% | 26.8% | 97.81% |
| 2022 | -3.9% | -29.0% | 10.9% | 2.82% |
| 2021 | 17.1% | -3.0% | 27.3% | 10.72% |
| 2020 | 3.8% | -19.5% | 40.6% | 93.43% |
| 2019 | 15.0% | 2.2% | 32.7% | 91.58% |
NAV & Total Return History
PUDCX - Holdings
Concentration Analysis
| PUDCX | Category Low | Category High | PUDCX % Rank | |
|---|---|---|---|---|
| Net Assets | 82.8 M | 861 K | 235 B | 86.79% |
| Number of Holdings | 9 | 2 | 16143 | 93.13% |
| Net Assets in Top 10 | 85.3 M | 859 K | 66.9 B | 78.80% |
| Weighting of Top 10 | 100.87% | 10.8% | 122.7% | 0.88% |
Top 10 Holdings
- PGIM Select Real Estate Fund 23.06%
- PGIM TIPS Fund 20.12%
- PGIM Quant Solutions Commodity Strategies Fund 16.06%
- PGIM Jennison MLP Fund 11.45%
- PGIM Jennison Global Infrastructure Fund 10.77%
- PGIM Global Real Estate Fund 8.39%
- PGIM Jennison Natural Resource Fund 4.99%
- iShares Gold Trust 4.15%
- PGIM Core Ultra Short Bond Fund 1.88%
Asset Allocation
| Weighting | Return Low | Return High | PUDCX % Rank | |
|---|---|---|---|---|
| Stocks | 98.99% | 0.00% | 100.10% | 30.41% |
| Cash | 1.88% | -7.92% | 100.00% | 44.15% |
| Preferred Stocks | 0.00% | 0.00% | 24.59% | 52.92% |
| Other | 0.00% | -42.55% | 113.97% | 63.60% |
| Convertible Bonds | 0.00% | 0.00% | 23.84% | 92.19% |
| Bonds | 0.00% | 0.00% | 75.15% | 71.93% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | PUDCX % Rank | |
|---|---|---|---|---|
| Real Estate | 39.79% | 0.00% | 65.01% | 1.03% |
| Energy | 32.50% | 0.00% | 85.65% | 1.48% |
| Utilities | 10.85% | 0.00% | 99.55% | 4.87% |
| Industrials | 8.97% | 0.00% | 24.37% | 75.48% |
| Basic Materials | 6.06% | 0.00% | 25.57% | 7.24% |
| Communication Services | 0.63% | 0.00% | 38.10% | 95.72% |
| Consumer Defense | 0.48% | 0.00% | 15.14% | 97.49% |
| Consumer Cyclical | 0.47% | 0.00% | 19.36% | 97.34% |
| Technology | 0.27% | 0.00% | 44.21% | 98.38% |
| Healthcare | 0.00% | 0.00% | 29.35% | 97.78% |
| Financial Services | 0.00% | 0.00% | 38.77% | 98.67% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | PUDCX % Rank | |
|---|---|---|---|---|
| US | 98.99% | 0.00% | 100.10% | 29.53% |
| Non US | 0.00% | 0.00% | 42.80% | 53.65% |
PUDCX - Expenses
Operational Fees
| PUDCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 3.16% | 0.03% | 27.98% | 3.63% |
| Management Fee | 0.63% | 0.00% | 1.83% | 75.91% |
| 12b-1 Fee | 1.00% | 0.00% | 1.00% | 87.59% |
| Administrative Fee | N/A | 0.01% | 0.83% | N/A |
Sales Fees
| PUDCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.25% | 5.75% | N/A |
| Deferred Load | 1.00% | 1.00% | 5.00% | 45.65% |
Trading Fees
| PUDCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| PUDCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 30.00% | 0.83% | 343.00% | 36.88% |
PUDCX - Distributions
Dividend Yield Analysis
| PUDCX | Category Low | Category High | PUDCX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.01% | 0.00% | 17.90% | 28.88% |
Dividend Distribution Analysis
| PUDCX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Annual | Quarterly | Quarterly |
Net Income Ratio Analysis
| PUDCX | Category Low | Category High | PUDCX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.11% | -2.34% | 13.92% | 90.33% |
Capital Gain Distribution Analysis
| PUDCX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Oct 31, 2024 | $0.025 | OrdinaryDividend |
| Jul 31, 2024 | $0.056 | OrdinaryDividend |
| Apr 30, 2024 | $0.027 | OrdinaryDividend |
| Dec 22, 2023 | $0.129 | OrdinaryDividend |
| Oct 31, 2023 | $0.020 | OrdinaryDividend |
| Jul 31, 2023 | $0.079 | OrdinaryDividend |
| Apr 28, 2023 | $0.009 | OrdinaryDividend |
| Dec 23, 2022 | $0.604 | OrdinaryDividend |
| Oct 31, 2022 | $0.035 | OrdinaryDividend |
| Jul 29, 2022 | $0.053 | OrdinaryDividend |
| Apr 29, 2022 | $0.014 | OrdinaryDividend |
| Jan 31, 2022 | $0.012 | OrdinaryDividend |
| Dec 27, 2021 | $1.137 | OrdinaryDividend |
| Oct 29, 2021 | $0.030 | OrdinaryDividend |
| Jul 30, 2021 | $0.041 | OrdinaryDividend |
| Dec 24, 2020 | $0.384 | OrdinaryDividend |
| Apr 30, 2020 | $0.008 | OrdinaryDividend |
| Dec 24, 2019 | $0.100 | OrdinaryDividend |
| Dec 24, 2019 | $0.003 | CapitalGainShortTerm |
| Dec 24, 2019 | $0.055 | CapitalGainLongTerm |
| Oct 31, 2019 | $0.018 | OrdinaryDividend |
| Jul 31, 2019 | $0.055 | OrdinaryDividend |
| Apr 30, 2019 | $0.002 | OrdinaryDividend |
| Dec 26, 2018 | $0.038 | OrdinaryDividend |
| Oct 31, 2018 | $0.010 | OrdinaryDividend |
| Jul 31, 2018 | $0.030 | OrdinaryDividend |
| Apr 30, 2018 | $0.010 | OrdinaryDividend |
| Dec 22, 2017 | $0.046 | OrdinaryDividend |
| Oct 31, 2017 | $0.002 | OrdinaryDividend |
| Jul 31, 2017 | $0.034 | OrdinaryDividend |
| Apr 28, 2017 | $0.021 | OrdinaryDividend |
| Jan 31, 2017 | $0.006 | OrdinaryDividend |
| Dec 27, 2016 | $0.025 | OrdinaryDividend |
| Dec 27, 2016 | $0.004 | CapitalGainLongTerm |
| Jul 29, 2016 | $0.035 | OrdinaryDividend |
| Dec 28, 2015 | $0.027 | OrdinaryDividend |
| Oct 23, 2015 | $0.013 | OrdinaryDividend |
| Jul 24, 2015 | $0.002 | OrdinaryDividend |
| May 22, 2015 | $0.032 | CapitalGainLongTerm |
| Dec 29, 2014 | $0.055 | OrdinaryDividend |
| Dec 29, 2014 | $0.078 | CapitalGainShortTerm |
| Dec 29, 2014 | $0.008 | CapitalGainLongTerm |
| May 23, 2014 | $0.014 | CapitalGainShortTerm |
| May 23, 2014 | $0.492 | CapitalGainLongTerm |
| Dec 27, 2013 | $0.001 | OrdinaryDividend |
| Dec 31, 2012 | $0.023 | OrdinaryDividend |
| Dec 23, 2011 | $0.034 | OrdinaryDividend |
| May 20, 2011 | $0.026 | OrdinaryDividend |
PUDCX - Fund Manager Analysis
Managers
Edward Campbell
Start Date
Tenure
Tenure Rank
Dec 30, 2010
11.42
11.4%
Edward L. Campbell, CFA, is a Managing Director and Portfolio Manager for QMA working within the Global Multi-Asset Solutions team. In this capacity, he is responsible for portfolio management, analysis, and economic and market valuation research, and he oversees a team of investment professionals. Ed also represents the firm through appearances in major media outlets, most notably as a regular guest on CNBC’s Squawk Box. Prior to joining QMA, Ed served as a Portfolio Manager and Senior Analyst for PGIM Investments’ Strategic Investment Research Group (SIRG). Previously, Ed was a Partner and Vice President at Trilogy Advisors. He earned a BS in economics and international business from The City University of New York and an MBA in finance, global business and organizational leadership from the New York University Stern School of Business.
Joel Kallman
Start Date
Tenure
Tenure Rank
Dec 30, 2010
11.42
11.4%
Joel M. Kallman, CFA, is a Vice President and Portfolio Manager for Quantitative Management Associates. Joel is a portfolio manager and a member of the asset allocation team. He also conducts economic and market valuation research. Joel has also held various positions within Prudential's fixed-income group, in areas such as high-yield credit analysis and performance reporting. He earned a BS and MBA in Finance from Rutgers University. He is also a member of the New York Society of Security Analysts and holds the Chartered Financial Analyst (CFA) designation.
Edward Keon
Start Date
Tenure
Tenure Rank
Dec 30, 2010
11.42
11.4%
Edward F. Keon, Jr. is a Managing Director and Chief Investment Strategist for QMA’s Global Multi-Asset Solutions team. In this capacity, he is responsible for portfolio management, analysis, and economic and market valuation research. He also represents the firm through appearances in major media outlets, most notably as a regular guest on CNBC’s Squawk Box. Prior to joining QMA, Ed served as Chief Investment Strategist and Director of Quantitative Research at Prudential Equity Group, LLC, where he was repeatedly voted onto Institutional Investor’s All-American Research Team, and as a Senior Vice President at I/B/E/S International Inc. Ed is a board member of the Chicago Quantitative Alliance, where he heads the committee to develop sound practices in quantitative investment management. He earned a BS in industrial management from the University of Massachusetts Lowell and an MBA in finance and marketing from the Massachusetts Institute of Technology Sloan School of Management.
Rory Cummings
Start Date
Tenure
Tenure Rank
Apr 30, 2015
7.09
7.1%
Rory Cummings, CFA, is a Vice President and Portfolio Manager for QMA working within the Global Multi-Asset Solutions team. In this capacity, he is responsible for portfolio management, analysis, and economic and market valuation research. Prior to his current role, Rory served as a Client Relations Specialist covering a variety of institutional clients. He earned a BA in finance from Seton Hall University and an MBA in financial markets and corporate finance from the New York University Stern School of Business.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 34.51 | 6.36 | 2.41 |
